Shares of R Systems International zoomed 15 per cent to hit an all-time high of Rs 211.45 on BSE after the company announced that its board will consider a share buyback proposal in the upcoming board meeting scheduled on August 06, 2021.
"The board of directors of the company is scheduled to be held on August 06, 2021, to consider the proposal for buyback of equity shares of the company, quantum & mode of buyback, appointment of intermediaries and other matters incidental thereto," R Systems International said.
The company will also consider and approve the audited standalone financial results and the unaudited consolidated financial results for the quarter and half year ended June 30, 2021.
The stock opened 13 per cent higher at Rs 207.90 against the previous close of Rs 183.80. Market cap of the firm rose to Rs 2,459 crore on BSE.
It has gained 122 per cent in the last one year and risen 71 per cent since the beginning of this year. The share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.
According to MarketsMojo, the stock is trading at a premium compared to its average historical valuations and its valuation seems to be fair. The company has declared positive results for the last 3 consecutive quarters and has a low Debt to Equity ratio.
Also, the technical trend has improved from Mildly Bullish on July 13, 2021, and the stock is technically in a Bullish range now. It has generated 25% returns since then and the multiple factors for the stock are Bullish like MACD, Bollinger Band, KST, DOW and OBV.
However, it noted that the company has a poor long-term growth as Net Sales has grown by an annual rate of 8.91% and Operating profit at 10.68% over the last 5 years.
R Systems International Limited is one of the leading providers of software product engineering and ITeS services and solutions. It has sixteen development and service centres to serve customers in North America, Europe, and the Far East.
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